Web Essay: There are different forms of capitalism

12:53 PM,
Jan. 2, 2014

Pope Francis.

Written by

ALAN FRISHMAN
Guest Essayist

The guest essay "Pope is wrong about capitalism" in the Dec. 22 Democrat and Chronicle is the typical wealthy person's rationalization of why unfettered capitalism and unlimited profits are desirable for everyone, everywhere. It is based on the "trickle-down theory" of how excessive income and wealth for the rich eventually help everyone in every income class.

Capitalism is a good economic system that virtually everyone ascribes to, including Pope Francis. But capitalism has a spectrum ranging from a system with no limits or controls (which guest essayist Jim Ryan favors) to one with ...